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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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Love your PIN by Valentine’s Day

Monday, January 16, 2006

The 14th February is traditionally associated with St Valentine - the Patron Saint of Love. However this year the 14th February is also the date when you will only be allowed to purchase goods in shops with your debit or credit cards by using your PIN (Personal Identification Number).

 

Sheffield Heeley MP Meg Munn said:

 

‘Debit and credit cards have become part of our everyday life - obtaining money from cash machines to purchasing goods and services at home and abroad. The Chip and PIN system allows us to make quick and easy purchases but also helps in the fight against fraud.  People will not be able to sign for the majority of transactions from the 14th February and I urge everyone to make sure they have a PIN number set up before the deadline.’

 

Since its introduction Chip and PIN has reduced fraud significantly.  There was a 29% reduction in counterfeit, lost and stolen fraud on plastic cards in the first 6 months of 2005 compared to the previous year.

 

For more information either contact your Bank or Building Society or visit www.chipandpin.co.uk.

 

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